SS1 - Sun Silver

[Sean K]

This area has been picked over by everyone and his dog, including SSR.
The depths of the intersection are nothing spectacular, and the strip ratios are bigger than i would like.
I think I will leave this one, I have already made a bit of money out of it early in the piece, think i will just be satisfied with that.
Good luck to those who want to play.
Mick

Yeah, getting into the IPO was where it was at. Still a relatively small MC at $65m for the resource. I haven't compared it to anyone yet. Probably the only thing might be SVL which is $150m, but a different apple in a different orchard.

 

[Sean K]

The market is expecting a considerable MRE upgrade after this drill program. Or, silver to keep going.

 

[Sean K]

One of the few ways to play the silver run. Not sure how many more legs this has.

 

[Sean K]

Probably another good day today. Not sure if any other silver play has performed as well.

IPO raised $13m, opportunistically raised $13m more and is now $93m.

 

[Sean K]

After going ona fly this has come back to reality with the POS failing the significant break up but holding about 30 bucks, which is good.

These grades sound pretty good and it looks like this area they're drilling will add up to lots more ounces of Ag and Sb.

They're really talking up the Antimony in this deposit considering the US rely so heavily on overseas input for weapons etc.

 

[Sean K]

They're really talking up the Antimony in this deposit considering the US rely so heavily on overseas input for weapons etc.

It's already started.

 

[Boggo]

Should head back up to its high.

 

[Sean K]

Should head back up to its high.

Should be a beneficiary but the main game is silver I guess. Need POS to keep up.

Need to keep an eye on anything with these rare earths that China is going to pull the rug from once the Taiwan conflict starts.

 

[Sean K]

SS1 has gone sideways since it's retreat from a very hard run after listing.

423Moz AgEq @ $33.90 = $14.34b

It's not all recoverable, yet, but that's a big number.

If they're successful with further drilling this year, and have a couple of decent MRE upgrades, could be worth a lot more.

 

[Sean K]

First MRE update this week. Will be interesting.

 

[Sean K]

This increases the value of the AgEq to about $16b.

There's a lot of gold in there at low grade. I wonder if that's an issue with processing.

 

[mullokintyre]

This increases the value of the AgEq to about $16b.

There's a lot of gold in there at low grade. I wonder if that's an issue with processing.

I suspect that the issue of the processing is what drove all the other bigger players away over the years.
Mick

 

[Sean K]

I suspect that the issue of the processing is what drove all the other bigger players away over the years.
Mick

I can't find anything that raises red flags with the ore body type. Maybe it's a permitting issue?

If there's no restrictions with digging this up it should be doing better than this really. Recent results are pretty impressive and that's a great looking chart to me. Ready to break up.

 

[Sean K]

SS1 ramping some antimony in an ancient hole as it's the flavour of the month. I'm not sure why as these grades don't seem to be very good.

Chart looks good though. Has followed POS.

 

[Sean K]

This sounds positive for an upgrade in the resource base in grade and volume.

Moving from a two-acid digest to a four-acid digest (whatever that means) has improved historical assays quite a bit.

The break up from 85c has held pretty well.

I suppose this is a good plan to test what other metals are in this deposit as it doesn't seem to have been done by the previous owners. But, does it mean they don't have confidence in the silver on it's own?

 

[Sean K]

Whenever I buy a company they go into a halt for a dilutive CR.

That breakout through 85c has been very good but will be short lived.

 

[Sean K]

92c is a fair discount to the last price, but that was only achieved over a few days of going vertical. Maybe that was the cunning plan. Is a 2% premium to the 15 day VWAP.

Maybe having $30m in the kitty is a good thing for the next year to build the resource and maybe a bit more confidence in the deposit.

No SPP. I don't think that matters as it will probably just trade down to the 92c level short term.

 

[qldfrog]

92c is a fair discount to the last price, but that was only achieved over a few days of going vertical. Maybe that was the cunning plan. Is a 2% premium to the 15 day VWAP.

Maybe having $30m in the kitty is a good thing for the next year to build the resource and maybe a bit more confidence in the deposit.

No SPP. I don't think that matters as it will probably just trade down to the 92c level short term.

View attachment 204488

Another $100sh down the drain for me with SL triggered at 95.5c arrrggg
4 of these this week.
Playing with small cap miners is fun....not always

 

[Sean K]

Another $100sh down the drain for me with SL triggered at 95.5c arrrggg
4 of these this week.
Playing with small cap miners is fun....not always

Especially when they pull a capital raise rug from under you. Could happen at any time really even though they always claim to be 'well funded'.

I also had the MEI CR to deal with this week but they miraculously held their SP on re-open.

Yes, all part of the spec junior miners merry go round.

 

[qldfrog]

Another $100sh down the drain for me with SL triggered at 95.5c arrrggg
4 of these this week.
Playing with small cap miners is fun....not always

In non alphabetical order , in the last 7 days manuka resources, strike energy and st george